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Discussion Forum : News and Current Events : Obama: Bankruptcy Is Most Likely Option for GM, Chrysler

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Earendel
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Joined: 2009/3/17
Posts: 308
Central Alberta, Canada

 Obama: Bankruptcy Is Most Likely Option for GM, Chrysler

Truly these are sign of the times...
~~~
April 1 (Bloomberg) -- President Barack Obama believes a quick, negotiated bankruptcy is the most likely way for General Motors Corp. to restructure and become a competitive automaker, people familiar with the matter said.

Obama also is prepared to let Chrysler LLC go bankrupt and be sold off piecemeal if the third-largest U.S. automaker can’t form an alliance with Fiat SpA, said members of Congress who were briefed on the GM and Chrysler situation before the president said two days ago that the automakers’ viability plans were insufficient.

source:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAAVqvS3v7Bk&refer=home

in other news...

World Bank warns of deep slowdown
http://news.bbc.co.uk/2/hi/business/7973707.stm

Global recession pushing millions into poverty
http://www.google.com/hostednews/afp/article/ALeqM5iIRBj5vXMdHbPk592mz3c-kZtEfw

Fire leads Des Moines to inspect small homeless camp
http://www.desmoinesregister.com/article/20090331/NEWS/903310381/1130/COMM08

In times like these, more people are going to church for help
http://www.usatoday.com/news/religion/2009-03-29-churches-helping_N.htm


_________________
David

 2009/4/1 10:25Profile





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